Daily Alert: Surprises keep on coming

  • Data yesterday from Stats NZ showed growth over Q1 was much, much stronger than anyone had forecast.
  • There’s an increasing risk the RBNZ lifts the OCR earlier than we’d previously forecast (we had pencilled in May 2022).
  • While many countries around the world are still struggling with COVID outbreaks, growth and employment data continues to surprise on the upside in North American and Australasia.

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